President Jackson Paid Off the National Debt, can the next President?
Andrew Jackson is the only President to have paid off the National Debt.
President Obama by order has established The Deficit Reduction Commission (DRC). He has appointed Democrat Erskine Bowles and former US Senator Alan Simpson, a Republican.
The choices presented to the DRC are two dagger-like ends of the bulls‘ horns, spending reduction on one horn and taxes increases on the
other. The emergent trap of the US fiscal deficits, public debt to GDP and the political paralysis is widely reported.
In the private sector, when a company has too much debt the management looks for assets to sell.
We The People of the United States have assets to sell. They are the US Department of the Interior Bureau of Land Management inventory, the USDA Forest Service (co-managed by the BLM) and the Tennessee Valley Authority.
What do the American people have to sell by auction?
Over 440 million acres of surface land in the Bureau of Land Management and Forest Service
700 million acres of subsurface mineral estate within the BLM
58 power generating plants within the TVA (the TVA may be overleveraged, even more reason to sell)
Alan Simpson had the opportunity to do a great good for his State of Wyoming. Over 80% of the land area of the State of Wyoming is under some form of Federal control.
These assets have tremendous value. I will not at this point state that I can quantify right now as to how many TRILLIONS of DOLLARS.
We need to get started for the sake of our children and their children.